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Serga [27]
3 years ago
9

Calculate Payroll An employee earns $44 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. Assume th

at the employee worked 55 hours during the week, and that the gross pay prior to the current week totaled $63,800. Assume further that the social security tax rate was 6.0%, the Medicare tax rate was 1.5%, and federal income tax to be withheld was $633.
Business
1 answer:
Marrrta [24]3 years ago
6 0

Answer: $1750

Explanation:

Given Data

Earnings = $44/ hr

Overtime Earnings = 1.5 times Of $44

= $66

Hours worked during the week = 55 hrs

Social security tax rate = 6.0%

Medicare tax rate = 1.5%

Federal income tax = $633

Therefore:

Gross pay = Normal pay + overtime pay

Normal pay

= $44 * 40 hrs

= $1760

Overtime pay

= $66 * 15 hrs

= $990

Gross pay = $1760 + $990

= $1750

Social security tax

= 0.06 * $2750

= $165

Medicare tax

= 0.015 * $2750

= $41.25

Total tax

= $633 + $41.25 + $165

= $839.25

Net pay

= $2750 - $839.25

= $1910.75

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Oriole Company made the following journal entry in late 2021 for rent on property it leases to Danford Corporation. Cash 153000
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Answer:

$277,125

Explanation:

The calculation of  income tax expense is shown below:-

Income tax expense = Income taxes payable at the end of 2022 + (Rent revenue ÷ 2) × Tax rate

= $258,000 + (($153,000 ÷ 2) × 0.25)

= $258,000 + $76,500 × 0.25

= $258,000 + $19,125

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Therefore for computing the income tax revenue we simply applied the above formula.

6 0
3 years ago
The amount of money collected by a snack bar at a large university has been recorded daily for the past five years. Records indi
disa [49]

Answer:

A) skewed to the right with a mean of $4000 and a standard deviation of $450.

Explanation:

While the days are picked at random, the size of the sample is enough to represent the reality. Among the random pick those days of football game will be picked too and will skewed to the right the distribution

The distribution will not change into normal as the reality is that distribution of revenue is not normally distributed among the days of the year.

3 0
3 years ago
The graph above shows how the price of video games varies with the demand quantity. Suppose that the price of video games is set
ira [324]
Price floor.
A floor, in real life, is at the bottom, below you — this then makes sense in business to say that a ‘floor’ represents the minimum value of something — in this case the price of video games.
In real life, a ceiling is above you, indicating that it could be used as a representative of a maximum value of something, like the price of a video game.

So, if we were to say that $120 was the ‘price ceiling’ for video games, then we would basically be saying that $120 is the most a video game could cost. If we were to say that $100 was the ‘price floor’ for video games, we would be saying that $100 is the minimum value that the price of a video game could assume.
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peggy practices her gymnastics routine for a total of 21 hours.Each practice session is 1 and 3 4 hours.how many practices sessi
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For the past two years, Swen Johannsen, owner/general manager of Swen's Fine Duds, a local men's clothing store, has fought to s
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Answer:

Swen is using product/service repositioning strategy.

Explanation:

Product Repositioning simply refers to the art of altering the target markets perception of one's product and or services.

Swen is still in the clothing business. He has only changed the way he delivers it to the target consumers.

Of course, this sometimes calls for a change in product mix (which refers to altering the type of products being offered). However, the central idea of the strategy still holds as customers now see the business differently.

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Cheers.

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